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(file photo) Allen Stanford, who was convicted of leading a multibillion-dollar Ponzi scheme that ensnared numerous Capital Region investors , is seeking early release from what is effectively a life sentence.  While his effort may be a long shot–this is his third try for a "compassionate release"–the court-appointed receiver is taking the opportunity to blast a separate effort by Stanford that is holding up distribution of partial compensation to victims.  "Defendant's actions in recent weeks demonstrate that, beyond a lack of remorse for his conduct, Defendant continues to act with actual, conscious indifference to the thousands of victims of his mega-fraud," the receiver's attorney says in a response to Stanford's motion that was filed yesterday.  The receiver and the Official Stanford Investors Committee settled with five banks, which victims accuse of aiding Stanford' fraud, for a total of more than $1.6 bil...

FREE Breaking News Alerts from StreetInsider.com! StreetInsider.com Top Tickers, 8/31/2023 August 10, 2023 9:25 AM EDT Tulsa, Oklahoma--(Newsfile Corp. - August 10, 2023) - Educational Development Corporation (NASDAQ: EDUC) ("EDC", or the "Company") (http://www.edcpub.com) today reports it is finalizing a new loan agreement with it's lender, Bank of Oklahoma, to replace the expiring Revolving Promissory Note. The planned agreement will extend through January 31 st , 2024. Full details of the terms of the agreement will be filed in the upcoming days. "We have been working closely with our financial advisors and the banking team at Bank of Oklahoma to execute a new agreement to replace our expiring Revolving Promissory Note. We plan to have the new agreement executed within the next few days. This loan agreement will provide further flexibility for us to concentrate on our bu...

Have you ever opened a Facebook message from a friend you haven't talked to in years ? You're excited to read their message until you notice the copy-and-paste sales pitch they used to try and rope you into their latest multilevel marketing (MLM) scheme—I mean business . Hard nope. Yeah, you had a great weekend (thanks for asking) but no, you really don't want to join their newest venture or buy the latest and greatest magic potion to grow your eyelashes. Your eyelashes are just fine the way God made them. When you hear "multilevel marketing," maybe you think of essential oils, Tupperware, beauty products or even workout programs and fitness drinks. Or maybe you think of that old friend who only reaches out when they've got something new to sell. Bless their heart. (That's passive-aggressive southern speak for "ugh.") But what is MLM, and does this type of business actually make you any money? Let's find out. Wh...

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The movie ending to the Herbalife ( NYSE:HLF ) investigation would have been a reincarnation of Eliot Ness riding in on a white horse, and launching a RICO prosecution of the entire MLM industry, so it would be over and done with, but that would have come with years of spectacle. I guess we have no such prosecutors today, and all of Preet Bharara, Eric Schneiderman, and Kamala Harris, and numerous others missed the opportunity to finally produce redress for the masses that were deceived by generation after generation of fraudsters that were all enabled by the judicial error of and inexperienced Administrative Law Judge James P. Timony at the FTC in his Amway '79 ruling, which was then blessed by the whole Commission under Chair Robert Pitofsky. But we won't have that type of a John Wayne ending. Only Illinois took action, and got a settlement for the citizens in that state. There may of course still be other actions. However, compared to the years of an FTC lawsuit the present ...

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Some Pepecoin hopefuls eye a massive PEPE price rebound, with on-chain data showing strong accumulation in recent days. Altcoin Watch Join us on social networks Pepecoin (PEPE), once an extremely profitable memecoin, has plunged by more than 80% four months after its record high. Now, technicals suggest that the memecoin could be at risk of even bigger losses in the coming weeks or months. Pepecoin faces rug pull allegations On Aug. 24, several rogue Pepecoin developers changed the number of signatures required to move tokens from their multisig wallet from five out of eight to two out of eight. Then, they sent $16 million worth of PEPE to crypto exchanges, suggesting they wanted to sell. A segment of market analysts viewed these moves as a hint of an impending "rug pull," raising fears that the PEPE price may crash to zero in 2023.  Another meme coin, another rug pull. Honestly what do you expect when you put your money on these scams?$pepe — Wolf (@IamCryptoWolf...